What is StrongBlock (STRONG) and how does it work?

0
142
Advertisement

The digital financial environment continues to evolve almost every second, which is not surprising for those working in the crypto sector. Among these technological developments, a new project called StrongBlock popularizes the concept of Node as a Service (NaaS) on the blockchain. NaaS is an alternative to running an entire blockchain contract on your own; It provides the infrastructure for developers and the tools to set up and manage blockchain nodes.

Connected blockchain nodes relay, transfer, and store the data of a decentralized blockchain. But, what is a blockchain node? A node, also known as a Full Node, is a device that stores the entire blockchain transaction history. But, who is behind the creation of the StrongBlock ecosystem?

The StrongBlock team includes CEO David Moss and Chief Technology Officer Brian Abramson, both veterans of software and blockchain. Cory Lederer, Chief Product Officer, is also among the StrongBlock founding team and has extensive experience managing technology products.

Related: Explaining the risks of hosting your own Ethereum 2.0 node

StrongBlock sees blockchain as the way of the future, but unless you’re well-versed in this technological breakthrough, it can be a risky place to enter. As a result, StrongBlocks’ goal is to make it easy for anyone to support and participate in it.

This article will delve into the concept of NaaS and explore what makes StrongBlock unique, how to make money with StrongBlock and how to buy the strong token.

StrongBlock explained
StrongBlock is a blockchain platform that aims to revolutionize the way blockchain networks work. The reason for its simplification is the simple NaaS tool, which allows users who are not well versed in blockchain to quickly build a blockchain compatible node while reimbursing them for running it.

Prior to StrongBlock’s NaaS implementation, running an Ethereum nodes required a comprehensive understanding of the blockchain as well as the ability to program and a server capable of running the node throughout the day. In short, diving into the decade before StrongBlock required either a lot of effort or a high level of knowledge to keep it simple.

In addition, bonuses were reserved for miners who solved complex mathematical problems, while no such monetary bonuses were distributed to the nodes. There is no way to evaluate contract performance.

To address the above issues, StrongBlock has automated all processes, allowing everyone to participate in the blockchain revolution. Users can create a knot in seconds using the StrongBlock platform. They can also add their node to get daily STRONG code rewards. STRONG is StrongBlock’s governance token, which developers use to enable token holders to contribute to defining the future of the protocol.

What are strong knots?
A strong node is a node that supports the Ethereum network. Node operators reward “Node Universal Basic Income” (NUBI) based on the number of Ethereum blocks they contribute to the maintenance of the network. However, the number of nodes, token price, node revenue, and non-fungible token ownership (NFT) all influence the rewards; They are variable and not guaranteed.

Related: Non-Foldable Tokens: How to Get Started with NFTs

Strong nodes are run as a service; Therefore, they do not need hardware and this allows anyone, even non-technical people, to build a blockchain compatible node in seconds and get paid to run it.

How does StrongBlock work?
The StrongBlock protocol is designed to give NUBI consistently. NUBI rewards are currently paid in STRONG, and in the future, the company will pay them as NFTs. Then the protocol is subject to those who obtained STRONG in this way. The potential lack of rewards by the community can be corrected in several ways as the protocol grows.

Rewards are measured based on each node’s ongoing contributions, STRONG NFTs burn, renewal fees, NUBI reduction and creation of different NUBI classes. Furthermore, there are two ways to use nodes within the StrongBlock protocol. Bring Your Own Node (BYoN) offers additional flexibility and the ability to further customize your node, while StrongBlock NaaS is faster and easier to set up.

Both approaches offer the same basic NUBI incentives, but future additions may give BYoN nodes more opportunities than NaaS nodes. Also, the monthly fee for NaaS is $14.95 (paid in ETH), while it varies in the case of BYoN.

What is the STRONG code?
The powerful token (now referred to as STRNGR) is an Ethereum-based ERC-20 token that runs on the Ethereum network. The coin is a ruling token that will eventually lead to the decentralized StrongBlock system.

While the team produced 10 million powerful tokens, they burned nearly 95% to develop the correct system tokens. The system continues to burn additional strong tokens with each new node deployment to maintain a supply of deflationary tokens.

How to run a blockchain node with StrongBlock
to launch block

Advertisement

LEAVE A REPLY

Please enter your comment!
Please enter your name here